Which direction will the crypto money market, which has been pausing just before the new year and falling in the last days, will proceed in the coming period?
Employees and traders in the finance sector know the abbreviation FUD. The abbreviation, "Fear, Uncertainty and Doubt" (Fear, uncertainty and doubt) in English, is used to depict the emotion that prevails in the process of transitioning from market to beast to aftermath. Here in the last days, the crypto money market in the last 1 year, especially in the last month, a large majority of the last few days, this feeling began to live intensively.
Bitcoin has reached a record high of $ 19,800 in December with a record high of $ 20,800 compared to the previous year and is feeling good in the recent period. Crypto Money, which quickly fell to the level of 10 thousand dollars in the last few days immediately after the new year pre-record, started to descend from the beginning of the past week, although it started to recover in a horizontal direction at 15-16 bin levels. he went down to the bottom and watched them at that level for a long time.
Bitcoin's downward trend is that in the relentless rise in December, the crypto money market has entered the market for Bitcoin from 16-19 thousand dollars (which is estimated to be several times that of Bitcoin and its derivatives until that day, according to exchange traders) turned to amazement. Those who returned to the fish came out of the water, and the experiences of those who entered these markets came, and thanks to those accustomed to this high fluctuation of the Crypto Money, most of them were not in their houses when they were going to the diminishing rice pace (at least for now).
Why is it that the new buyers are constantly included because of the rise in speed since the first year of the Crypto FUD sentiment for money markets, why did it feel so intense for the first time? The media attributed this decline to two developments; The ban on cryptographic money in South Korea and the high energy consumption of crypto money mining in China. In fact, neither South Korea was reflecting the truth (which was denied by the State Department), nor China's mining decision, as exaggerated as it was (most miners have moved to different countries, particularly Canada).
The problem for Crypto Money, however, is much more fundamental; In November-December, the volume of the creation of new user entries carried the market from $ 150 billion in two months to $ 820 billion, and previously invested in Bitcoin (65-70%), "I missed the Bitcoin train but discovered a new Bitcoin thanks to the "new" in the head, this time the price is very low for the coins. We have seen many coins that do not have a business model because of this crazy flow, and even the service that they promise, have reached the market value of up to $ 100 million.
The whale of the market that wanted to take advantage of this crazy and unconscious flow stopped the upward momentum of the market by knowing both the investor comfort that occurred in the first days of each New Year and the two 'negative' developments above, and turned the air into a negaif to make FUD feelings dominant. Crypto-monies, which have lost close to half of Bitcoin and its value, especially since January 13th to January 15th, moved into the 9th to the 9th, and prevented new entrants who were skeptical about this market for a long time. While the last 1-2 days have been great, the market has lost its momentum in the past 2 hours, and it will continue its horizontal course unless there is a significant improvement.
There are many courses to be made on behalf of Crypto Money markets and investors in this process; personally I think that the market will not be able to catch up with a momentum that will provide more than this volume of CryptoParses and will experience a major correction similar to the 2001 Dot.com crisis if they can not put up a new and rational story. But this story must be based on facts, not promises as they are these days. For example; It is an energy distribution company and / or country that will explain the use of Ethereum smart contracts for an update or surplus payment in the Bitcoin protocol to reduce the transfer times in seconds, and a sector giant that will announce that it will use its own Enterprise Crypto Money in trade, such as Kodak.
And finally the investor here is a warning; If you are going to invest in CryptoPalala you will make your purchase and sale decisions according to your promises, road maps and rising prices, not rational facts, business plans and revenue generating capacities. Otherwise, you will be the only one who will turn this market into a ball, and the greatest loss will be only you, and only you yourself.